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The Market Outlook
@themarketoutlook
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The Market Outlook
22 Oct, 12:31
▪️"Expect financial services revenue to scale up going forward," says Paytm
💥 "New subscription paying device merchant sign ups has surpassed January 2024 levels," says Paytm
These are the statements on subscriber
base, UPI customer onboarding, cash balance and more
🌟Bajaj Finance: Cons PAT stood at ₹4,014 crore, compared to the ET NOW poll estimate of ₹4,070 crore
💥 "New subscription paying device merchant sign ups has surpassed January 2024 levels," says Paytm
These are the statements on subscriber
base, UPI customer onboarding, cash balance and more
🌟Bajaj Finance: Cons PAT stood at ₹4,014 crore, compared to the ET NOW poll estimate of ₹4,070 crore
The Market Outlook
22 Oct, 11:21
The Market Outlook
22 Oct, 11:21
The Market Outlook
22 Oct, 11:18
The Market Outlook
22 Oct, 10:46
ICICI Securities upgrades HDFC Asset Management to 'Buy' from 'Hold' with a higher target price of Rs 5,500 per share. This indicates a potential upside of 18.7%. The brokerage believes the company's improving equity mix and higher market share in systematic investment plan (SIP) flows will help expand profitability. It expects the firm's net profit to grow at a CAGR of 28% over FY25-27.
Bajaj Housing Finance rises as its Q2FY25 net profit grows 20.9% YoY to Rs 545.6 crore. Revenue increases by 26.1% YoY to Rs 2,410.2 crore due to higher assets under management (AUM) and loans. It features in a screener of stocks with rising net cash flow and cash from operating activities.
360 One Wam is falling as its Q2FY25 net profit misses Forecaster estimates by 6.1% despite growing 32% YoY to Rs 245.5 crore. Revenue increases 42.9% YoY to Rs 890.4 crore due to strong growth in average recurring revenue assets under management (ARR AUM) and higher transactional/brokerage income during the quarter. It features in a screener of stocks with increasing revenue every quarter for the past three quarters.
Union Bank of India is rising as its net profit grows by 34.4% YoY to Rs 4,719.7 crore in Q2FY25, helped by lower provisions and tax expenses. Revenue increases by 13.3% YoY to Rs 32,036.5 crore, driven by the treasury, retail, and wholesale banking segments. The bank's asset quality improves as its gross and net NPAs decline by 202 bps YoY and 32 bps YoY, respectively.
Nifty 50 was trading at 24,832.40 (51.3, 0.2%), BSE Sensex was trading at 81,189.78 (38.5, 0.1%) while the broader Nifty 500 was trading at 23,284.85 (21.6, 0.1%).
Market breadth is in the red. Of the 1,928 stocks traded today, 702 were on the uptick, and 1,187 were down.
Riding High:
Largecap and midcap gainers today include Varun Beverages Ltd. (594.55, 2.8%), Hindustan Zinc Ltd. (513.60, 2.4%) and Tube Investments of India Ltd. (4,486.35, 2.3%).
Downers:
Largecap and midcap losers today include Mazagon Dock Shipbuilders Ltd. (4,158.35, -10.9%), Supreme Industries Ltd. (4,485.90, -9.9%) and Punjab National Bank (94.95, -7.2%).
Volume Shockers
20 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included City Union Bank Ltd. (168.51, 11.9%), Poly Medicure Ltd. (2,524.25, 3.0%) and Tube Investments of India Ltd. (4,486.35, 2.3%).
Top high volume losers on BSE were Supreme Industries Ltd. (4,485.90, -9.9%), Punjab National Bank (94.95, -7.2%) and PNC Infratech Ltd. (342.30, -6.7%).
Jyothy Labs Ltd. (504.30, -2.6%) was trading at 27.1 times of weekly average. Route Mobile Ltd. (1,534.90, -2.1%) and Torrent Power Ltd. (1,940, -1.4%) were trading with volumes 3.8 and 3.4 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
4 stocks hit their 52 week highs, while 16 stocks were underachievers and hit their 52 week lows.
Stocks touching their year highs included - Multi Commodity Exchange of India Ltd. (6,431.05, -3.0%), Torrent Power Ltd. (1,940, -1.4%) and Whirlpool of India Ltd. (2,349, 0.0%).
Stocks making new 52 weeks lows included - IDFC First Bank Ltd. (68.32, -3.0%) and IndusInd Bank Ltd. (1,274.35, -2.6%).
5 stocks climbed above their 200 day SMA including City Union Bank Ltd. (168.51, 11.9%) and Varun Beverages Ltd. (594.55, 2.8%). 74 stocks slipped below their 200 SMA including Supreme Industries Ltd. (4,485.90, -9.9%) and Jupiter Wagons Ltd. (468.15, -8.5%).
Bajaj Housing Finance rises as its Q2FY25 net profit grows 20.9% YoY to Rs 545.6 crore. Revenue increases by 26.1% YoY to Rs 2,410.2 crore due to higher assets under management (AUM) and loans. It features in a screener of stocks with rising net cash flow and cash from operating activities.
360 One Wam is falling as its Q2FY25 net profit misses Forecaster estimates by 6.1% despite growing 32% YoY to Rs 245.5 crore. Revenue increases 42.9% YoY to Rs 890.4 crore due to strong growth in average recurring revenue assets under management (ARR AUM) and higher transactional/brokerage income during the quarter. It features in a screener of stocks with increasing revenue every quarter for the past three quarters.
Union Bank of India is rising as its net profit grows by 34.4% YoY to Rs 4,719.7 crore in Q2FY25, helped by lower provisions and tax expenses. Revenue increases by 13.3% YoY to Rs 32,036.5 crore, driven by the treasury, retail, and wholesale banking segments. The bank's asset quality improves as its gross and net NPAs decline by 202 bps YoY and 32 bps YoY, respectively.
Nifty 50 was trading at 24,832.40 (51.3, 0.2%), BSE Sensex was trading at 81,189.78 (38.5, 0.1%) while the broader Nifty 500 was trading at 23,284.85 (21.6, 0.1%).
Market breadth is in the red. Of the 1,928 stocks traded today, 702 were on the uptick, and 1,187 were down.
Riding High:
Largecap and midcap gainers today include Varun Beverages Ltd. (594.55, 2.8%), Hindustan Zinc Ltd. (513.60, 2.4%) and Tube Investments of India Ltd. (4,486.35, 2.3%).
Downers:
Largecap and midcap losers today include Mazagon Dock Shipbuilders Ltd. (4,158.35, -10.9%), Supreme Industries Ltd. (4,485.90, -9.9%) and Punjab National Bank (94.95, -7.2%).
Volume Shockers
20 stocks in BSE 500 are trading on high volumes today.
Top high volume gainers on BSE included City Union Bank Ltd. (168.51, 11.9%), Poly Medicure Ltd. (2,524.25, 3.0%) and Tube Investments of India Ltd. (4,486.35, 2.3%).
Top high volume losers on BSE were Supreme Industries Ltd. (4,485.90, -9.9%), Punjab National Bank (94.95, -7.2%) and PNC Infratech Ltd. (342.30, -6.7%).
Jyothy Labs Ltd. (504.30, -2.6%) was trading at 27.1 times of weekly average. Route Mobile Ltd. (1,534.90, -2.1%) and Torrent Power Ltd. (1,940, -1.4%) were trading with volumes 3.8 and 3.4 times weekly average respectively on BSE at the time of posting this article.
BSE 500: highs, lows and moving averages
4 stocks hit their 52 week highs, while 16 stocks were underachievers and hit their 52 week lows.
Stocks touching their year highs included - Multi Commodity Exchange of India Ltd. (6,431.05, -3.0%), Torrent Power Ltd. (1,940, -1.4%) and Whirlpool of India Ltd. (2,349, 0.0%).
Stocks making new 52 weeks lows included - IDFC First Bank Ltd. (68.32, -3.0%) and IndusInd Bank Ltd. (1,274.35, -2.6%).
5 stocks climbed above their 200 day SMA including City Union Bank Ltd. (168.51, 11.9%) and Varun Beverages Ltd. (594.55, 2.8%). 74 stocks slipped below their 200 SMA including Supreme Industries Ltd. (4,485.90, -9.9%) and Jupiter Wagons Ltd. (468.15, -8.5%).
The Market Outlook
22 Oct, 10:45
YoY to Rs 1,166.1 crore, driven by improvements in the treasury, corporate, and retail banking segments. The bank's asset quality improves as its gross non-performing assets contract by 53 bps during the quarter. It appears in a screener of stocks with promoters decreasing their shareholdings.
Mahindra Logistics' net loss narrows by 32.5% YoY to Rs 10.8 crore in Q2FY25. Revenue grows by 11.5% YoY to Rs 1,521 crore, helped by an improvement in the supply chain management segment. The company shows up in a screener of stocks where mutual funds increased their shareholding in the past quarter.
One97 Communications falls sharply as its revenue declines by 31.1% YoY to Rs 1,834 crore in Q2FY25. However, it posts a net profit of Rs 928.3 crore in Q2FY25 owing to lower payment processing, marketing & promotional, and employee benefits expenses. It appears in a screener of stocks with an increasing trend in non-core income.
Kamlesh Shah, CFO of Elecon Engineering, says the company is on track to meet its revenue guidance of Rs 2,225 with an EBITDA margin of 24% in FY25, helped by a healthy order book. He attributes the company’s muted performance in Q2 to the Lok Sabha Elections, but expects a shift on a quarter-on-quarter basis.
Ambuja Cements' board of directors approves the acquisition of a 72.8% stake in Orient Cement for a total consideration of Rs 5,903 crore.
Gravita India's Q2FY25 net profit rises by 24.4% YoY to Rs 72 crore, driven by inventory destocking. Revenue increases 13.8% YoY to Rs 967.8 crore, driven by higher sales from lead and aluminium segments during the quarter. It features in a screener of stocks with zero promoter pledge.
Hyundai Motor India’s shares debut on the bourses at a 1.3% discount to the issue price of Rs 1,960. The Rs 27,870.1 crore IPO received bids for 2.4 times the total shares on offer.
Macquarie initiates an 'Outperform' rating on Hyundai Motor India with a target price of Rs 2,235. The brokerage believes Hyundai deserves to trade at a premium PE multiple versus its peers. It notes that the company's market share in core segments has stabilized and improved from recent lows. Macquarie also highlights Hyundai's favorable portfolio mix and premium positioning in the market.
Mahindra Logistics' net loss narrows by 32.5% YoY to Rs 10.8 crore in Q2FY25. Revenue grows by 11.5% YoY to Rs 1,521 crore, helped by an improvement in the supply chain management segment. The company shows up in a screener of stocks where mutual funds increased their shareholding in the past quarter.
One97 Communications falls sharply as its revenue declines by 31.1% YoY to Rs 1,834 crore in Q2FY25. However, it posts a net profit of Rs 928.3 crore in Q2FY25 owing to lower payment processing, marketing & promotional, and employee benefits expenses. It appears in a screener of stocks with an increasing trend in non-core income.
Kamlesh Shah, CFO of Elecon Engineering, says the company is on track to meet its revenue guidance of Rs 2,225 with an EBITDA margin of 24% in FY25, helped by a healthy order book. He attributes the company’s muted performance in Q2 to the Lok Sabha Elections, but expects a shift on a quarter-on-quarter basis.
Ambuja Cements' board of directors approves the acquisition of a 72.8% stake in Orient Cement for a total consideration of Rs 5,903 crore.
Gravita India's Q2FY25 net profit rises by 24.4% YoY to Rs 72 crore, driven by inventory destocking. Revenue increases 13.8% YoY to Rs 967.8 crore, driven by higher sales from lead and aluminium segments during the quarter. It features in a screener of stocks with zero promoter pledge.
Hyundai Motor India’s shares debut on the bourses at a 1.3% discount to the issue price of Rs 1,960. The Rs 27,870.1 crore IPO received bids for 2.4 times the total shares on offer.
Macquarie initiates an 'Outperform' rating on Hyundai Motor India with a target price of Rs 2,235. The brokerage believes Hyundai deserves to trade at a premium PE multiple versus its peers. It notes that the company's market share in core segments has stabilized and improved from recent lows. Macquarie also highlights Hyundai's favorable portfolio mix and premium positioning in the market.
The Market Outlook
22 Oct, 10:45
NBCC (India) receives multiple work orders totaling Rs 127.5 crore from various clients. These include orders worth Rs 51 crore from Oil India, Rs 26 crore from IIFCL, Rs 20.4 crore from the Intelligence Bureau, Rs 16.9 crore from GS1 India, Rs 9.9 crore from EDCIL, and Rs 3.3 crore from Munitions India for the execution of interior fit-out works in office spaces.
Route Mobile's net profit grows 21% YoY to Rs 10.7 crore in Q2FY25. Revenue increases 9.7% YoY to Rs 1,113.4 crore, driven by improvements in the domestic business (up 29% YoY) and overseas business (8.5% YoY). The company appears in a screener of stocks with book value per share improving over the past two years.
ICICI Securities' net profit grows 24.9% YoY to Rs 529 crore in Q2FY25. Revenue increases 36.6% YoY to Rs 1,706.7 crore, attributable to improvements in the treasury, broking & distribution, and issuer services & advisory segments. It shows up in a screener of stocks with increasing revenue for the past eight consecutive quarters.Varun Beverages is rising as its net profit grows by 23.7% YoY to Rs 619.6 crore in Q2FY25. Revenue increases 25.3% YoY to Rs 4,932.1 crore as sales volume rises 21.9% YoY to 267.5 million cases during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.
Cyient DLM falls sharply as its net profit misses estimates by 24.8%, despite rising 5.5% YoY to Rs 15.5 crore in Q2FY25. Revenue grows 33.4% YoY to Rs 389.5 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the past quarter.
Realty stocks like Raymond, DLF, Godrej Properties, and Brigade Enterprises plunge more than 3% in trade. All constituents of the broader Nifty Realty index are also trading in the red.
Abhyuday Jindal, Managing Director of Jindal Stainless, anticipates the stainless steel sector will grow by 8-9% in FY25, driven by strong domestic demand fueled by infrastructure projects, including those from the Railways and Metro initiatives. However, rising imports from China and Vietnam pose a challenge. Additionally, Jindal notes that export markets such as the US and EU remain sluggish, primarily due to high freight rates and geopolitical tensions impacting performance.
Yogesh Malhotra, CEO of Gravita India, projects volume growth of 23-27% in FY25. He believes EBITDA margins may increase by 50 bps in select verticals, and expects RoCE of more than 20%. Malhotra highlights that the Finance Ministry’s Reverse Charge Mechanism and policy changes under GST are tailwinds for the company.
Route Mobile's net profit grows 21% YoY to Rs 10.7 crore in Q2FY25. Revenue increases 9.7% YoY to Rs 1,113.4 crore, driven by improvements in the domestic business (up 29% YoY) and overseas business (8.5% YoY). The company appears in a screener of stocks with book value per share improving over the past two years.
ICICI Securities' net profit grows 24.9% YoY to Rs 529 crore in Q2FY25. Revenue increases 36.6% YoY to Rs 1,706.7 crore, attributable to improvements in the treasury, broking & distribution, and issuer services & advisory segments. It shows up in a screener of stocks with increasing revenue for the past eight consecutive quarters.Varun Beverages is rising as its net profit grows by 23.7% YoY to Rs 619.6 crore in Q2FY25. Revenue increases 25.3% YoY to Rs 4,932.1 crore as sales volume rises 21.9% YoY to 267.5 million cases during the quarter. The company appears in a screener of stocks where mutual funds increased their shareholding over the past two months.
Cyient DLM falls sharply as its net profit misses estimates by 24.8%, despite rising 5.5% YoY to Rs 15.5 crore in Q2FY25. Revenue grows 33.4% YoY to Rs 389.5 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the past quarter.
Realty stocks like Raymond, DLF, Godrej Properties, and Brigade Enterprises plunge more than 3% in trade. All constituents of the broader Nifty Realty index are also trading in the red.
Abhyuday Jindal, Managing Director of Jindal Stainless, anticipates the stainless steel sector will grow by 8-9% in FY25, driven by strong domestic demand fueled by infrastructure projects, including those from the Railways and Metro initiatives. However, rising imports from China and Vietnam pose a challenge. Additionally, Jindal notes that export markets such as the US and EU remain sluggish, primarily due to high freight rates and geopolitical tensions impacting performance.
Yogesh Malhotra, CEO of Gravita India, projects volume growth of 23-27% in FY25. He believes EBITDA margins may increase by 50 bps in select verticals, and expects RoCE of more than 20%. Malhotra highlights that the Finance Ministry’s Reverse Charge Mechanism and policy changes under GST are tailwinds for the company.
The Market Outlook
22 Oct, 10:42
Market closes lower, Supreme Industries' net profit falls 15% YoY to Rs 206.6 crore in Q2
Nifty 50 closed at 24,472.10 (-309, -1.3%) , BSE Sensex closed at 80,220.72 (-930.6, -1.2%) while the broader Nifty 500 closed at 22,814.45 (-448.8, -1.9%). Market breadth is highly negative. Of the 2,309 stocks traded today, 192 were in the positive territory and 2,107 were negative.
Indian indices closed in the red, with the benchmark Nifty 50 index closing at 24,472.1 points. The Indian volatility index, Nifty VIX, rose 4.6% and closed at around 14.4 points. Hyundai Motor India closed 7.2% lower after its shares made their debut on the bourses at a 1.3% discount to the issue price of Rs 1,960.
Nifty Midcap 100 and Nifty Smallcap 100 closed lower. Nifty Metal and Nifty Consumer Durables closed in the red. According to Trendlyne’s sector dashboard, Healthcare Equipment & Supplies emerged as the best-performing sector of the day, with a rise of 1.6%.
European indices are trading lower, except for Russia’s RTSI and MOEX. Major Asian indices closed mixed. US index futures are trading mixed, indicating a cautious start to the trading session. GE Aerospace, Danaher Corporation, Philip Morris International, and Verizon Communications, among others, are set to report their earnings later today.
Money flow index (MFI) indicates that stocks like Amber Enterprises India, Multi Commodity Exchange of India, and Gujarat Fluorochemicals are in the overbought zone.
Kajaria Ceramics falls sharply as its Q2FY25 net profit declines 22.8% YoY to Rs 85.5 crore due to higher raw materials and employee benefit expenses. However, revenue increases by 5.1% YoY to Rs 1,179.3 crore, helped by an improvement in the tiles segment. The company shows up in a screener of stocks with profits declining from the past three quarters.
Goodyear India falls to its new 52-week low of Rs 1,030.1 as its net profit falls by 58.5% YoY to Rs 15.7 crore in Q2FY25 due to higher cost of materials. Revenue decreases by 1.3% YoY to Rs 682.3 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.
Supreme Industries is falling as its net profit declines by 15% YoY to Rs 206.6 crore in Q2FY25, helped by inventory destocking. Revenue decreases 1.4% YoY to Rs 2,288 crore owing to a reduction in the plastic piping products and consumer products segments. It appears in a screener of stocks with growing costs YoY for long-term projects.
Kotak Institutional Equities highlights a significant reversal in Indian markets in October, following a nine-month rally that made them the most expensive globally. Foreign portfolio investors (FPIs) withdrew a record Rs 82,479 crore from Indian equities this month. The brokerage also raised concerns about excessively high market valuations across most sectors. However, it believes the overall market sentiment remains quite euphoric.
Nifty 50 closed at 24,472.10 (-309, -1.3%) , BSE Sensex closed at 80,220.72 (-930.6, -1.2%) while the broader Nifty 500 closed at 22,814.45 (-448.8, -1.9%). Market breadth is highly negative. Of the 2,309 stocks traded today, 192 were in the positive territory and 2,107 were negative.
Indian indices closed in the red, with the benchmark Nifty 50 index closing at 24,472.1 points. The Indian volatility index, Nifty VIX, rose 4.6% and closed at around 14.4 points. Hyundai Motor India closed 7.2% lower after its shares made their debut on the bourses at a 1.3% discount to the issue price of Rs 1,960.
Nifty Midcap 100 and Nifty Smallcap 100 closed lower. Nifty Metal and Nifty Consumer Durables closed in the red. According to Trendlyne’s sector dashboard, Healthcare Equipment & Supplies emerged as the best-performing sector of the day, with a rise of 1.6%.
European indices are trading lower, except for Russia’s RTSI and MOEX. Major Asian indices closed mixed. US index futures are trading mixed, indicating a cautious start to the trading session. GE Aerospace, Danaher Corporation, Philip Morris International, and Verizon Communications, among others, are set to report their earnings later today.
Money flow index (MFI) indicates that stocks like Amber Enterprises India, Multi Commodity Exchange of India, and Gujarat Fluorochemicals are in the overbought zone.
Kajaria Ceramics falls sharply as its Q2FY25 net profit declines 22.8% YoY to Rs 85.5 crore due to higher raw materials and employee benefit expenses. However, revenue increases by 5.1% YoY to Rs 1,179.3 crore, helped by an improvement in the tiles segment. The company shows up in a screener of stocks with profits declining from the past three quarters.
Goodyear India falls to its new 52-week low of Rs 1,030.1 as its net profit falls by 58.5% YoY to Rs 15.7 crore in Q2FY25 due to higher cost of materials. Revenue decreases by 1.3% YoY to Rs 682.3 crore during the quarter. The company appears in a screener of stocks underperforming their industry price change in the quarter.
Supreme Industries is falling as its net profit declines by 15% YoY to Rs 206.6 crore in Q2FY25, helped by inventory destocking. Revenue decreases 1.4% YoY to Rs 2,288 crore owing to a reduction in the plastic piping products and consumer products segments. It appears in a screener of stocks with growing costs YoY for long-term projects.
Kotak Institutional Equities highlights a significant reversal in Indian markets in October, following a nine-month rally that made them the most expensive globally. Foreign portfolio investors (FPIs) withdrew a record Rs 82,479 crore from Indian equities this month. The brokerage also raised concerns about excessively high market valuations across most sectors. However, it believes the overall market sentiment remains quite euphoric.
The Market Outlook
22 Oct, 08:47
The Market Outlook
22 Oct, 08:45
▶️KAJARIA CERAMICS: Q2 CONS NET PROFIT 850M RUPEES VS 1.08B (YOY)
▶️KAJARIA CERAMICS (APS): Q2 EBITDA RUPEES 1.58B VS 1.79B (YOY) || Q2 EBITDA MARGIN 13.40% VS 16.00% (YOY)
▶️KAJARIA CERAMICS: Q2 REVENUE 11.8B RUPEES VS 11.2B (YOY)
▶️KAJARIA CERAMICS (APS): Q2 EBITDA RUPEES 1.58B VS 1.79B (YOY) || Q2 EBITDA MARGIN 13.40% VS 16.00% (YOY)
▶️KAJARIA CERAMICS: Q2 REVENUE 11.8B RUPEES VS 11.2B (YOY)
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